Davide Campari Milano NV
MIL:CPR
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Davide Campari Milano NV
Davide Campari Milano NV, more commonly known as the Campari Group, has its roots steeped in the rich tradition of Italian aperitifs, evolving from a humble, single-product enterprise to a global powerhouse in the spirits industry. Founded in 1860 by Gaspare Campari in Milan, the company has built its name around the vibrant red, bitter-sweet apéritif that bears the family name. Today, Campari Group owns an extensive portfolio of over 50 premium and super-premium brands spanning across spirits, wines, sodas, and more. These brands, including iconic names like Aperol, SKYY Vodka, and Grand Marnier, have allowed Campari to position itself strategically in the market, catering to an increasingly diverse and global consumer base.
Campari Group's business model thrives on a combination of tradition, brand innovation, and aggressive global expansion. Revenue streams are predominantly derived from the sale of spirits and wines across various international markets, with the company strategically acquiring emerging and established brands to bolster its market presence. The group harnesses a meticulous marketing strategy, capitalizing on the heritage and unique qualities of its brands while tailoring its product offerings to local tastes and preferences. Through a mix of retail, hospitality venues, and duty-free distribution channels, Campari ensures its products are both visible and available to a wide audience. By marrying its historic legacy with contemporary appeal, the Campari Group not only captures the spirits of connoisseurs but also crafts an enduring brand narrative that resonates with new generations of drinkers worldwide.
Davide Campari Milano NV, more commonly known as the Campari Group, has its roots steeped in the rich tradition of Italian aperitifs, evolving from a humble, single-product enterprise to a global powerhouse in the spirits industry. Founded in 1860 by Gaspare Campari in Milan, the company has built its name around the vibrant red, bitter-sweet apéritif that bears the family name. Today, Campari Group owns an extensive portfolio of over 50 premium and super-premium brands spanning across spirits, wines, sodas, and more. These brands, including iconic names like Aperol, SKYY Vodka, and Grand Marnier, have allowed Campari to position itself strategically in the market, catering to an increasingly diverse and global consumer base.
Campari Group's business model thrives on a combination of tradition, brand innovation, and aggressive global expansion. Revenue streams are predominantly derived from the sale of spirits and wines across various international markets, with the company strategically acquiring emerging and established brands to bolster its market presence. The group harnesses a meticulous marketing strategy, capitalizing on the heritage and unique qualities of its brands while tailoring its product offerings to local tastes and preferences. Through a mix of retail, hospitality venues, and duty-free distribution channels, Campari ensures its products are both visible and available to a wide audience. By marrying its historic legacy with contemporary appeal, the Campari Group not only captures the spirits of connoisseurs but also crafts an enduring brand narrative that resonates with new generations of drinkers worldwide.
Organic Sales Decline: Campari’s Q1 organic net sales dropped by 4.2%, mainly due to Easter timing, logistics delays, and macro volatility—but a strong April helped reverse much of this impact.
Margin Pressure: EBIT-adjusted fell 17.2% organically with a 310 bps margin decline, as stepped-up A&P investment and higher SG&A outpaced flat gross margin.
Guidance Maintained: Management reaffirmed full-year 2025 guidance, but warned of continued low visibility and headwinds from tariffs and FX.
Tariff Impact: New tariffs could reduce 2025 EBIT by EUR 25 million (from April), with mitigation plans depending on competitor moves and possible price increases.
Cost Savings On Track: Campari is progressing toward its cost containment targets, expecting 50 bps margin benefit in 2024 and larger gains by 2027.
Strong APAC Growth: Asia Pacific delivered 11% organic growth in Q1, led by Australia (+16%) and continuing momentum in China and Southeast Asia.
Sell-out Trends Robust: Despite weak sell-in/shipment figures, consumer sell-out across key markets and brands remained strong, giving management confidence for the rest of 2025.
